Trust Dept Cash - Safe Deposit Box

Posted By: NU Rhules

Trust Dept Cash - Safe Deposit Box - 05/27/21 01:10 PM

Bank is settling an estate and found over $10,000 cash in decedent's box. We put the cash into the Bank Trust dept's checking account. Since the Bank's trust department is the Agent for the PR, and the funds are in the Trust Dept's account, isn't this CTR exempt? Or would we simply list the PR as the Owner in the CTR, and trust dept employee as the conductor, but list the trust dept's checking account. I'm no trust expert for sure. I need another cup of coffee,...woke up thinking about this.